Apple Original Content Plans Now Backed By $1B Budget

This money will be used to help procure and produce as many as 10 television shows. In their capable hands, the company no doubt hopes to unleash multiple hit movies and TV series that could soon propel Apple firmly into elite status in the streaming video world, and compete with titans like Netflix and Amazon Video.

Apple is reportedly tooling up for the increasingly furious fight over original video content with a $1 billion budget for the next year.

To put this figure into respective, this was the same amount of cash Amazon paid in 2013 when it began producing original content in 2013. Apple is going shopping with a dream budget - one billion dollars.

What is clear is Apple's growing ambition to create original content, signaling a new era for the hardware-focused company.

The original report has now been corroborated by Bloomberg, which further reports that a new Los Angeles-based team will be in charge of producing and buying new shows and film content. In contrast, streaming giant Netflix generated $2.8 billion in revenue and amassed 104 million subscribers in Q2 2017. That means if they want to pursue a Game of Thrones-like original series that's super-ambitious and expensive, or get into business with big-name directors, showrunners or actors, or even pursue theatrical releases, they can afford to. So let's dive in to see some more details on the matter. Up until now, initial efforts "Planet of the Apps" and "Carpool Karaoke" have failed to bring much attention and the company are still yet to reveal ratings for the show. "We're learning a lot about the original content business and thinking about ways that we could play at that", saidApple CEO Tim Cook.